IT ALL ADDS UP..

Research and Development Tax Credits

More accessible than you might think

Many businesses believe in the common myth that research and development (R&D) tax credits are only available to scientists and the ambitious tech and computing companies of tomorrow.

In reality, R&D tax credits are a hugely valuable Government tax relief which almost any business investing in innovation of any kind can probably benefit from.

Determining eligibility

If your business spends time and money developing innovative products, services or processes, you could be eligible for R&D tax credits. The same applies if you spend a significant amount of your time ‘enhancing’ existing products, services or processes.

At AGS, our team regularly meet with clients to discuss R&D eligibility. We will put together a report documenting your eligibility, which can then be reviewed by a HM Revenue & Customs (HMRC) inspector who will meet with the tax authority once every three months to keep up-to-date on any important changes.

What are R&D tax credits worth?

R&D tax credits enable you to claim up to 230 per cent of any qualifying expenditure.

They can effectively be used as a useful alternative to grants for R&D funding – or even work alongside these grants to help your business reach new heights.

With R&D, you are free to either make a claim or ‘cash it in’ if you would prefer to use the scheme to boost your cash flow.